NEW YORK, July 17, 2012 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of New Oriental Education & Technology Group Inc. ("New Oriental Education" or the "Company") (NYSE: EDU), concerning whether the company and certain of its officers and directors have violated federal securities laws.
On July 17, 2012, shares of New Oriental Education lost 27 percent to $16.22 by 12:05 p.m. in New York. The company disclosed that the U.S. Securities and Exchange Commission has launched a formal investigation into the Chinese Company's accounting practices. The SEC is investigating "whether there is a sufficient basis for the consolidation of Beijing New Oriental Education & Technology (Group) Co., a variable interest entity of the Company, and its wholly-owned subsidiaries, into the Company's consolidated financial statements," New Oriental Education said in today's statement.
If you are aware of any facts relating to this investigation, or purchased shares of New Oriental Education, you can assist this investigation by contacting either Peretz Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman, 212-697-6484
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